Thursday, 21 July 2016

A response to Annie's 136 pages of hard read (updated)

UPDATES

My friend who forwarded me the long piece below via Wassap earlier has got back to me and confirmed that the writer is indeed, as suggested by some who had already commented here, the pro-Najib online scribe Datuk (?) Lim Sian See.

It was pointed out to me that she wrote it on her Facebook page.

Please excuse me for not knowing that as I don't have an active FB account or frequent that social media platform.

a friend forwarded me the following long piece which I don't know had been written by who.

But I think it makes an interesting read and deserved to be published.

Here it goes :

The US DOJ document is a long read but so far, the following is what I can summarize from this and the press conference.

The USA Govt's Department of Justice (DOJ) have filed civil cases to seize the assets they believe is linked to 1MDB, from four individuals under the USA's Kleptocracy Asset Recovery Initiative.

Q1. Who are the four individuals?They are Riza Aziz, stepson of Prime Minister Najib Razak; Jho Low, a Malaysian financier; and Khadem Al Qubaisi, the former managing director of Abu Dhabi's sovereign-wealth fund IPIC and former Chairman of Aabar Investments PJS and finally Mohamed Ahmed Badawy Al-Husseiny responsible for dealing with 1MDB at that time.

Q2. What is the USA's Kleptocracy Asset Recovery Initiative?It is an initiative started in the year 2010 by the USA Govt under the US Department of Justice (DOJ) with the aim to seize and recover assets within the USA which the DOJ suspects is linked to corruption from a foreign country and return them to the originating country.

Q3. Why is the DOJ investigating this case?

In March 2015, the DOJ received a complaint from Sarawak Report. Further complaints appears to also have been made by Tun Mahathir loyalist, Khairuddin Abu Hassan.

Q4. What is the DOJ actually filing against the 3 individuals and what will happen next?

The DOJ is filing civil cases against the 3 individuals to ask the courts to seize their assets. The courts will then check if the identified assets are being claimed by anyone else. If no one else is claiming these assets then the courts will ask the DOJ to prove that these assets have indeed been stolen or received illegally.

Q5. Is Prime Minister Najib Razak also charged?

No. He is not charged and not named in this case despite Tun Mahathir previously saying in September 2015 that Najib is afraid to go overseas as he will be caught by the FBI. This is untrue as not only is this a civil case but Najib is not named in the suits.

But there is a reference to a MALAYSIA OFFICAL 1 which is alleged to have received funds that DOJ alleges is linked to 1MDB.

Q5. Will anyone go to jail if the assets are seized?

No. These is a civil suit and not a criminal case. If the courts find in favour of the DOJ, only the assets are seized. There is no jail terms or criminal conviction.

Q6. If the court allows the assets to be seized, what happens to the seized assets?

The assets are eventually returned back to the whomever the DOJ believes it is stolen from - in this case, 1MDB.

Q7. Are the assets purchased with money stolen from 1MDB?

1MDB has consistently maintained that no money was stolen and can account for where its money has gone to. However, 1MDB is currently in dispute with IPIC where 1MDB maintains that it has paid or deposited or guaranteed up to USD6 billion by a company called Aabar Investments PJS BVI upon the instructions of Aabar's the then Chairman, Khadem Al Qubaisi and the then Managing Director.IPIC disputes that it owns Aabar Investments PJS Ltd (BVI) and thus denies it has received these funds from 1MDB.

This dispute is now in arbitration at the London Arbitration Center and will take many months. However, 1MDB is confident that they will win this case and stand a good chance to recover their money - which is why 1MDB had earlier refused to pay the interest on a USD3.5 billion bonds despite comfortably able to, which triggered the bond guarantee by IPIC thus leading to the arbitration process.

Q8. If the money is not stolen then why is the USA DOJ acting on the complaint?

It is possible that some of the money that was paid by 1MDB into the Aabar Investments PJS Ltd (BVI) controlled by Khadem - which IPIC denies is owned by them, may have been used to fund various investments in the USA including real estate, investment in films, artwork and companies.

Q9. How much worth in asset is impacted by the USA DOJ?No specific amounts have been confirmed yet but reports by NYT and WSJ is quoting up to USD 1 billion.

Q10. Why is the PM's step-son Riza Aziz involved.

WSJ had previously reported that investigators believe that Red Granite, Riza Aziz’s film company received USD$155 million in loans from the Aabar Investments PJS Ltd (BVI) much of which went to finance the 2013 movie “The Wolf of Wall Street. and to purchase properties.

WSJ said documents show three transfers to Red Granite Capital in 2012 - US$60 million, US$45 million, and US$50 million.Of this, US$105 million was booked by Red Granite Capital as a loan, while the other US$50 million was moved to the company through intermediaries.

“Among the intermediaries, according to people familiar with investigations and the person familiar with 1MDB: Telina Holdings Inc, a company that had been set up in the British Virgin Islands by Mr Al-Husseiny and his boss, Khadem Al Qubaisi.”

According to WSJ , the US$50 million loan from Telina Holdings has been repaid, citing people familiar to the investigations.

A Red Granite spokesperson told WSJ that the company “has been repaying and will continue to repay all its loans. “Red Granite had no reason to believe at the time that the source of Aabar’s funds was in any way irregular and still believes the loan to be legitimate,”

“What Red Granite have done and will continue to do is develop and produce successful and acclaimed movies that have generated more than US$825 million in worldwide box-office revenues.”

Q11. So, if it was a loan or investment into Red Granite and is already part repaid or being repaid from a successful film company, why is Riza Aziz still the target of a civil suit?

In the USA, if you make profits based on funding which the DOJ suspects was from an illegal source then this is called "profiteering" and hence your profits are also considered illegal and can be seized - essentially making money out of illegal funding. This is different from stealing money.

The DOJ will then have to prove that Red Granite is aware that the funding or loan that they received is deemed illegal.

Q12. What about Jho Low's investments?

Not much has been revealed what assets or the amounts of investments are owned by Jho Low, who is a fund manager, in the USA but Jho Low had confirmed before that he has real estate holdings in the USA and may have co-invested in some US-based companies.

Q13. How long will this civil cases take before a judgement is reached?

Similar cases have taken years as both sides present their arguments to the US courts for the judge to make a final decision.

Q14. Is there anything unusual about this case?

Yes. Typically, the supposed victim of any stolen money has to make a complain to the USA DOJ to request the DOJ to seize any assets they deem was purchased using the stolen money. In this case, 1MDB has consistently maintained that there is no money stolen and they can account for all their investments or transfers but the DOJ seems to be still going ahead with filing civil suits to recover stolen money even though the "victim" said no money has been stolen.

Q15. How come 1MDB says no money missing and all accounted for when the US says are spent in such flamboyant ways?

Answer: 1MDB dealt with JV partners that are part of the foreign govts and also legitimate investment funds recommended by an international bank. 1MDB transferred those money to them. What happens after the money is transferred is not within the control or knowledge of 1MDB. It is the responsibility of those counter-parties.

1MDB has started the process of recovering our assets from those counter-parties,, which is primarily the relationship we have with the disputed Aabar Investment PJS Ltd - a process that is now in arbitration and which 1MDB is confident of a positive outcome

Q16 ) What about the deposits into Malaysia Official 1 accounts as detailed in the FBI accounts.

It is important to note that this account although opened in his personal name is not for his personal use and was the special president account for use on the party and allowed by the party constitution- a practise that even Muhyiddin admitted was in practise from way back.https://www.youtube.com/watch?v=rnI_5pbkqs0

Even WSJ admits that the funds in this account were used for political purposes and not for personal benefit.

At no point in time did the Malaysia Official 1 received any direct transfers of funds from 1MDB accounts into his private accounts but from other different companies or accounts.

The DOJ alleges that the Malaysia Official 1 retained RM210 million from 3 transfers from funds that can ultimately be linked to 1MDB.

The 3 payments1) RM60 million (USD20million at that time) - paid in 2011 (the JV between 1MDB and PetroSaudi was started in 2009) from the accounts of the then Governor of Riyadh, Prince Turki Al Saud.

The DOJ alleges that these RM60 million payment in the year 2011 comes from the USD1.83 billion that 1MDB invested in the JV with PetroSaudi starting in 2009.

2) RM100 million (USD30 million at that time) - paid in late 2012 from the accounts of BlackStone Asia

The DOJ alleges that this RM100 million payment in Nov 2012 comes from the USD3.5 billion bonds that 1MDB and IPIC issued in April 2012.

But this transfer was accompanied by a letter dated a year ago in 2011 which said the sender was going to be sending up to USD375 million from different accounts including BlackStone Asia.

3) RM50 million - which came from the RM2.08 billion (or the infamous USD681 million at exchange rate of USD1 to RM3.05 then) transferred in during March 2013, just before GE13 where RM2.03 billion (or USD620 million at exchange rate of USD1 to RM3.27 then) was returned in August 2013 - to and from the accounts of Tanore.

This transfer was also supported by a letter from the Saudi Royal family donor which the MACC officials also interviewed and which the Saudi Foreign Minister had said was their funds.

I would believe that at no point in time that the Malaysia Official 1 has knowledge of the ultimate source of the funds transferred into the account. His knowledge is based on a prior multi-year arrangement made with the Kingdom of Saudi Arabia where political donations would be made to his account and his party.

It is important to note that each transfer was also accompanied by a letter from the Saudi royalty.

----I will be writing more on this as I go into the documents deeper and await the official statements from the Govt for better understanding.

However, it looks like the timely release of this document has completely diverted the focus on the recently deepening Penang snap elections issue - which is a pity.

Q16 ) What about the deposits into Malaysia Official 1 accounts as detailed in the FBI accounts.

It is important to note that this account although opened in his personal name is not for his personal use and was the special president account for use on the party and allowed by the party constitution- a practise that even Muhyiddin admitted was in practise from way back.https://www.youtube.com/watch?v=rnI_5pbkqs0

Even WSJ admits that the funds in this account were used for political purposes and not for personal benefit.

We don't care if it is for political or personal purposes..That's OUR money as Malaysian CITIZENS!! Siphoned off!! Is that not money laundering ??

I'm unimpressed with Sian See's provocative life-jacket sophistry - that superfluous mismatch of facts and figures designed to achieve nothing else but political expedience for the chief crook and company.

Blogger dedak ni bersilat gila-gila nak mempertahankan Najib, nothing wrong with that! Apparently, there is no longer a cross border investigation. Investigation done. Indeed, it is a civil suit. It is already summon in motion.

Important revelation, the $681 paid into Najib's account was not donation from the Arab as claimed. The United States department of Justice spelled out in detail that the money transferred not from the Arab, but from 1MDB.

Gila betul mereka ini, I quote;

"1MDB funds were used to pay for gambling debts in Las Vegas, said US investigators."

"Funds were stolen under the pretense of a 1MDB investment in oil exploration.

"On paper the US$1 billion was for resource rights, instead (it was) used for personal enrichment...(including) gambling debts in Las Vegas casions, a luxury yacht, interior decorators in London, millions in property including a Bombardier jet costing US$35 million," said Deputy Director of the Federal Bureau of Investigation Andrew McCabe.

The theft is a very well planned theft or scam that used 1mdb as a vehicle to execute it. Fortunately other foreign agencies were drawn to investigate the theft.

If there were no overseas agencies investigating the theft, we will never know what had happened. Eventhough there were clear evidences, those people associate with the top person are still denying that person's involvement. It is very obvious that now we know the truth. Eventually the whole truth as they cannot hide the information any more.

So we are supposed to believe this ' out of nowhere' post rather than 136 pages from a year of exhausted and intense investigation with complete detail of money trails and bank docs. Who do you think are we? Julian Khoo? Rocky Bru?

'DS Rosmah will suffer great collateral damage as a result of the civil lawsuit against her Hollywood film-making son'

HUH???? Knape pulak?

Although the details of the lawsuit points that Malaysian Official 1 is a relative of Rosmah's son Riza Shahriz bin Abdul Aziz it cannot possibly be the Malaysian Prime Minister's wife simply because she is not a high-ranking official in the Malaysian Government who held a position of authority with 1MDB, although one cannot be blamed for assuming she had vast, unofficial high-ranking authority.

Malaysian Official 1 cannot be Rosmah because she is also not a public servant as spelled out under Section 21 of the Malaysian Penal Code.

So who is Malaysian Official 1 named in the US Justice Department lawsuit as a beneficiary of billion of ringgit of misappropriated money from 1MDB?

AMPRIVATE BANKING-MR private account in ArabMalaysian Bank which also received USD 681 million (681 American pies) 'donation' belonged to the Malaysian Official 1.

Malaysian Official 1 cannot be anybody else but Mohd Najib bin Tun Abdul Razak, the Prime Minister of Malaysia who also used to be the Chairman of the Board of Advisors of 1MDB until the board was dissolved early this year amid global money laundering investigations.

No wonder la "Malaysian Official 1" sold half malaysian peninsular to Singapore under the pre text of HSR project. Rich Singaporeans chinese or chinese singaporeans will acquire homes and land in malaysia, and ordinary & young gen malaysians will suffer. How this malaysian gens going to compete with singaporean monies?It looks that "Malaysian Official 1" knows his fate and just going autopilot and care less about malaysians future.

For our gen's sake, malaysians have to show fullest objection of this HSR at any costs. No other projects that singaporean government keen to participate with malaysia except this HSR project as singapore realised the benefits and advantages the have in this take.

Have you just woken up bros.? The Singapore initiated TPPA signing was the preamble followed up with this HSR ... it's the great Singapore assimilation of Peninsular Malaysia. Who needs DAP to make inroads?

1) Najadi was shot dead after lodging police report on illegal money transaction into the crook’s personal account.2) Kevin Morais who prepared the draft charge sheet for prosecution was abducted and found dead in an oil drum.3) AG was sacked abruptly.4) TSMY,Mukhriz & Shafie were sacked for questioning about 1MDB.5) PAC team was disbanded and replaced with new team called “cari makan” team. The old team members were rewarded with “bonuses”.6) Auditor General Report on 1MDB were classified as OSA.7) MACC officers were arrested while some had their house ransacked by police.8) The scumbag AG confirmed that RM42m travelled from SRC to the crook’s account but no action taken against any party. The 2 Directors of SRC has been MIA and no effort to trace them although everyone knows they are living in Batam.9) Jho Low continues to live lavishly with money siphoned through 1MDB.10) The rakyat is made to pay GST to cover up for the RM50b stolen via 1MDB.